# Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (recast) (Text with EEA relevance), Article 288: Set-off

Extent: E+W+S+N.I.

1. The opening of reorganisation measures or winding-up proceedings shall not affect the right of creditors to demand the set-off of their claims against the claims of the insurance undertaking, where such a set-off is permitted by the law applicable to the claim of the insurance undertaking.
2. Paragraph 1 shall not preclude actions for nullity, voidability or unenforceability referred to in Article 274(2)(l).

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Source: https://www.legislation.gov.uk/eudr/2009/138/article/288 (the official version)
Page: https://openlegislation.uk/eu-directive-2009-138/article-288
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.